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Thai Vegetable Oil Q1 profit falls YOY

Thai Vegetable Oil Public Company Ltd said its normalized net income for the first quarter amounted to 44 satang per share, a decline from 45 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 355.6 million baht, a decline from 363.8 million baht in the year-earlier period.

The normalized profit margin fell to 5.1% from 5.4% in the year-earlier period.

Total revenue increased year over year to 6.92 billion baht from 6.70 billion baht, and total operating expenses rose year over year to 6.33 billion baht from 6.05 billion baht.

Reported net income decreased on an annual basis to 497.5 million baht, or 62 satang per share, from 519.1 million baht, or 64 satang per share.

As of May 13, US$1 was equivalent to 33.55 baht.